Workplace training has declined for the first time in over a decade due to the knock-on effects of Covid-19, research digital coaching provider Ezra has found.
The global market is still worth $357.7 billion, but the pandemic caused a 3 percent decline last year – the first decline since 2009. Between 2009 and 2019, the market grew by 52 percent to $370.3bn.
The average employee dedicates an estimated 34.7 hours per year to learning within the workplace. This dedication to professional improvement has climbed by nearly three hours in the last decade (2009-2019), having increased by 0.9 percent per year on average.
“Workplace training is now a fundamental part of modern-day business and it enables a company to remain compliant and competitive in an ever-changing business landscape,” Ezra founder Nick Goldberg said.
It’s not just employees that are dedicated to workplace improvement, companies are also committing to the cause. On average, businesses spend $1,308 per employee each year on workplace training. This has again climbed over the last 10 years (2009-2019) from $1,068 with company training spends increasing at a rate of 2 percent per year.
“It’s not just about ensuring your workforce are fit for purpose and it can add an incredible amount of value to employees who see the ability to learn and evolve as an important aspect when career satisfaction is concerned,” Goldberg said.
In the Middle East, as the workforce continues to shift to the pandemic, companies have focused on upskilling. Digital transformation is shaping strategies for companies across sectors.
“Workplaces are becoming more virtual and distributed, and operational processes and information systems are quickly adapting disruptive technologies to improve productivity and enhance our work-life balance,” Fiona McBride previously wrote for Arabian Business.
“Organisational leadership must embrace these challenges by developing strategies that capitalise on new technology, but this must be allied by adopting optimised processes and setting the right example in terms of an adaptive mindset and cultural change… Upskilling on an individual level is acknowledging the need to grow, identifying the key areas of growth, and investing in yourself while others are yet to.”
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